Our varied distribution models, subscription, and ad-supported reach audiences wherever and however they want to listen and bring value to the SiriusXM subscription as exemplified by recent deals with Kevin Hart, Kelly Ripa, and Tom Brady. CEO Jennifer Witz says there are opportunities to combine live radio shows with on-demand podcasts to better serve the listening preferences of its subscribers. Published: April 25, 2023. Subscribe for FREE! For more information about those risks and uncertainties, please view SiriusXM's SEC filings and today's earnings release. Our Q1 results were better than we expected certainly based on where trends were heading in December or January. Maybe for Jennifer on distribution. And how the new next generation Sirius XM experience will help improve that over the course of 2023? On the used car market, just to start with that, the used car sales were actually pretty strong in the first couple months of the year. You'll be missed. I know pen rates are higher now. Scott, you want to? Advertising revenue was $334 million, decreased slightly by 1% in the first quarter. And we will continue to be active in generating trials. Obviously, as we said at the year-end call that a lot of our free cash flow and a lot of our numbers will be coming in the second half of the year, but we're going to continue with our disciplined approach, as we've used over the last couple of years. We help resolve pain points facing marketers by using greater automation and making buying more efficient. Thank you. All discussions of adjusted operating results exclude the effects of stock-based compensation. But we are continuing to see progress in advance of that on 360L. And secondly, we look at the totality of the package between the talent, the issues that allowed them to be free to negotiate, and other things. Step 2: From the list, select the preset you wish to delete. I also want to thank Sean for his many contributions these last few years and ensuring a smooth transition. You called out the partnership with Walmart Plus announced in the quarter. SIRI earnings call for the period ending March 31, 2023. Please proceed with your questions. As we develop our new SiriusXM platform, we are rethinking how we surface and deliver talk content and see opportunities to better combine live shows with on-demand podcasts to serve the diverse preferences of listeners. And I guess what I wanted to ask about is just a follow-up on the subscriber progression here. Clearly, with negative 347,000 this quarter, we are expecting, as we said, improvements quarter over quarter. Thank you. This will have positive implications to ARPU, conversion, retention, and subscriber growth in 2024 and beyond. As it now looks to do build its digital business, the company is rethinking how that spoken word content is delivered. The Rob Carson Show Podcast. Good morning, everyone. Seasonality in advertising revenue and the strategic cost-saving measures should deliver ramping EBITDA in the second, third, and fourth quarter. Other channels on Sling include: Longhorn Network, Cable News Network, HLN, Hallmark Movies & Mysteries, Turner Classic Movies, TV Land, A&E, AMC, BET, Bravo, Comedy Central, E! SIRI earnings call for the period ending March 31, 2023. While this is a great indicator of what's to come, these features are currently only available in a limited number of 360L-enabled vehicles and awareness of these features is still low. Our Sling review also includes more about why our team loves Sling. We are already beginning to see benefits from cost reductions implemented in Q1 across every element of our business. Today, well have prepared remarks from Jennifer Witz, our Chief Executive Officer; Sean Sullivan, our Chief Financial Officer; and Tom Berry, who will assume the position of CFO tomorrow. Over the next few years, 360L will continue to expand across OEMs including on select Mercedes-Benz models as part of an agreement that will increase the installation of Sirius XM to make it a standard feature on all Mercedes-Benz models available in the United States. Username. With that, I'll hand the call over to Jennifer. Our Q1 results were better than we expected, certainly based on where trends were heading in December or January, we had a really solid quarter with ad revenue down just 2%. We plan to tackle these issues with a new data-driven platform launching later this year that allows for more control of the listener experience and improve discovery, fully utilizing our unmatched content lineup. Youve certainly been very tolerant of views on all sides of the spectrum. Thanks, Matt. Is that still what you see? Great. Please proceed with your questions. Whether you have a Fire TV Stick or a Cube or another device, you can get access to Newsmax TV. And our goal, of course, is to continue a disciplined and thoughtful approach to capital return. WebThere are many ways to watch Newsmax TV without cable, including Sling, Fubo TV, or DirecTV Stream.. And our first question is from the line of James Ratcliffe with Evercore ISI. Hooper Stevens -- Senior Vice President, Finance and Investor Relations. Joel Osteen Gets His Own SiriusXM Satellite Radio Channel By Newsmax Wires | Tuesday, 03 June 2014 06:35 AM EDT Comment Print A A Joel Osteen's "America's Night of Hope" at Yankee Stadium on Saturday will introduce national listeners to the Texas pastor's own channel on SiriusXM satellite radio. The majority of our trial funnel as you would expect, is represented by the millions of trial starts that we do every year through our automotive partners. In short, I am pleased with our financial performance this quarter and Im confident in our opportunity to expand our subscriber base as auto sales recover, and we launched the next generation Sirius XM experience later this year. So with that, let's jump right into it. Thank you. So Stephen, the Walmart and T-Mobile have been great partners and Im very pleased that weve been able to launch with them and test out different trial offers. It also features popular syndicated programs including Sean Hannity and Mark Levin. And podcasting continues to be a bright spot. *Average returns of all recommendations since inception. Download the SiriusXM Dealer App. Generally, the expectation was modestly negative. If you just drove off the lot in a shiny new vehicle, chances are pretty high that SiriusXM Satellite Radio is (A) a standard feature on your radio and (B) free of charge for a certain period of time. And as we noted, our Q1 was at 3.4 times, and we returned $161 million to shareholders in the first quarter, and we'll continue to be opportunistic for the remainder of the year. Fubo TV isn't only great for sports fans, though. Just subscribe to Sling, Fubo TV, or DirecTV Stream to get Newsmax TV on your Android smart TV. Entertainment Television, ESPNU, INSP, Science, FYI, MTV2: Music Television, BBC America, beIN Sports, CMT, and more. With a huge number of subscription plans covering every conceivable way to get entertained, Sirius XM is one of the best entertainment platforms around for sure. Listen online or download the iHeart App. Please proceed with your questions. We havent changed the guidance on subscribers, so still expecting modestly negative for the year. And I believe that's because we were really well-positioned to capture late in-quarter demand that came in as advertisers started to open up their budgets because we have these programmatic solutions across music streaming and podcasting. No, Newsmax TV isn't included in your Philo subscription. These collaborations demonstrate our strategy of inviting people to experience SiriusXM in the way that suits them best. Following this build cycle, we do not anticipate any spending on satellites for many years. Bye-Bye. Tags: Financials Pandora Radio SiriusXM. But the streaming trial funnel, our challenge has not been trial generation, and weve put very distinct guardrails in place and how were active in performance media in bringing trials into the funnel, partnerships is sort of an untapped opportunity. So it's rolling out. This satellite CapEx spending will be in the $300 million range per year in 2023 and 2024 before declining to approximately 175 million in 2025, approximately 80 million 2026, and approximately 20 million 2027. Sirius XM Stock Has a Lot to Prove This Week, 3 Nasdaq 100 Stocks That Are No-Brainer Buys in April, I Wouldn't Touch This Stock With a 10-Foot Pole 10 Years Ago -- Now I Can't Stop Buying Shares. Hey, great. As you know, it is a big part of our funnel but we have seen used car trial starts did increase in Q1 versus Q4, which sets us up well. The reversal isn't necessarily permanent, but it will sting in the near term. And then maybe the same question sort of on the in-car business. Subscribe to Sling, Fubo TV, or DirecTV Stream to get Newsmax TV on your iOS device. Sirius XM (SIRI) Q1 2023 Earnings Call Transcript, 3 Nasdaq 100 Stocks That Are No-Brainer Buys in April, I Wouldn't Touch This Stock With a 10-Foot Pole 10 Years Ago -- Now I Can't Stop Buying Shares. That's right -- theythink these 10stocks are even better buys. And the cost to acquire trials has gone down. Thanks. Listen to music, live sports radio, the best talk and entertainment radio. Is that still what you see? So I think you were saying on the last quarter call that, well, you werent formally guiding for a number for subs for this year. Turn on the FoxNews simulcast on siriusxm, and turn your tv on as well. We'll share progress on future quarterly calls, but the first months of 2023 has already brought several exciting product iterations and consumer offers, providing valuable insights for the full platform relaunch later this year. Alexa, sign up for to Sling, Fubo TV, or DirecTV Stream to get Newsmax TV on Amazon devices. Scott Greenstein, our president and chief content officer, will join Jennifer, Sean, and Tom to take your questions during the Q&A portion of the call. But positioning for the future, we have had a long history since we launched annual average increases in ARPU of about 3%. With an emphasis on politics, Gerry also brings his unique takes on major sports stories and cultural issues. You have three options to watch And as we have always said, business models really do matter. Hooper Stevens. These are some of the easiest to use to get Newsmax TV access without cable. Theres so much here you can explore it forever, and while And the competitive challenges we have are easily solved with 360L and the new platform that we're launching, and we are starting to see that already in some of our numbers. Earnings of $0.07 a share would be a small step down from the $0.08 a share it clocked in with a year earlier. Thank you for taking the question. On the positive side, however, our test and learn strategy will enable us to improve streaming subscriber results sequentially throughout the remainder of the year, even with a lower baseline of spend. For Sirius XM radio, Sirius XM packages can be bought. At this time, Ill turn the conference over to Hooper Stevens, Senior Vice President of Investor Relations and Finance. We'll continue our current process of being cautious and disciplined. Hi. It has been a real pleasure to serve this company, its talented employees and our shareholders as CFO these past 2.5 years. I just dont want to focus on ARPU solely because I do think theres demand at lower price points and we are looking at more flexible pricing structures that we will likely implement when we launch the new platform. Some of that's market conditions and some of that is more efficiently buying and specific channels. So the number in Q1 was anticipated, right? Are you seeing any flux in terms of the categories that are participating or just kind of tailwinds for audio advertising even irrespective of the economy? So I wouldn't expect to see major changes in our streaming net ads until after that. So we look at this probably more often than not, but we spent a lot of time looking at this. And as we have always said, business models really do matter. We have a service with very high satisfaction, low churn and one of the leading ARPUs across direct-to-consumer media, not just audio. Jennifer, maybe just a follow-up on that line of discussion. Thanks, everybody, for participating today. The change in royalties was driven by the expiration of the discounted rates on pre-1972 music as of the end of 2022 and a CRB announced 9% CPI inflator on webcasting performance rights and programming and content expenses climbed 6% due to increased licensing fee and production costs. All discussions of adjusted operating results exclude the effects of stock-based compensation. Theres so much to do here! While we continue to see opportunities for a bigger streaming-only business, car sales will remain the dominant driver of our subscriber funnel. Thanks Matt. Because of this typical seasonality of our business in terms of receipts versus expenditures, combined with the timing of our capital expenditures, we expect to produce a meaningful portion of 2023s free cash flow later in the year. At the corporate level, G&A was up 21%, with the majority of the increase driven by litigation expenses and investment asset adjustments on our employee deferred comp plan. James Ratcliffe -- Evercore ISI -- Analyst. So that sets us up well for the in-car funnel. Transitioning from a one-size-fits-all approach to a dynamic multichannel individualized approach, we'll promote only heard-here moments and exclusive talent to drive subscriber conversions among their fans, no matter how or where they want to listen. Here you've come in and you've updated financial guidance. Thanks, Stephen. We increased the number of women's games we deliver to our subscribers to almost 800 broadcasts, doubling from the previous season. And of course, that helps with the funnel there. And that is because we're addressing these pain points. Please proceed with your questions. Maybe for Jennifer on distribution, you called out the partnership with Walmart+ announcing the quarter. Theyre looking for more opportunities to more easily navigate the service. Sure. With strong similarities between talk radio and podcasts, we can do more to seamlessly integrate them across our service and provide more control and discoverability for subscribers, Witz said Thursday. So I think there is a case to be made for demand to start coming back, maybe some of the pent-up demand to be released, and auto sales to slowly but incrementally improve over the course of the year. I just saw a stat the other day that we watch quite frequently about intent to buy, and it's at one of the highest levels we've seen over the last couple of years. Harts podcasts will continue to air on satellite radio prior to their release as a podcast, and Hartbeat will also produce broadcast-specific content. And on that note, Tom if you could just give us an idea, your key priorities coming into the role, sort of whats at the top of the bullet point list on the whiteboard in your office? Great. @SIRIUSXM is. If you're trying to watch Newsmax TV without cable and you also watch a lot of sports, Fubo TV is probably the best pick for you. Just to talk about my whiteboard, what we're focused on. The good news is that Sirius XM is trading for less than 12 times earnings with a reasonable 2.6% yield. Alongside our ad tech success, this quarter, we renewed U.S. and international sales agreements with SoundCloud and our advertising relationship with the own podcast network. Sirius XM (SIRI) Q4 2022 Earnings Call Transcript, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Why I Refuse to Chase the Maximum Social Security Benefit, A Bull Market Is Coming: 3 Stocks to Buy Without Hesitation, 1 Trillion-Dollar Growth Stock Down 28% You'll Regret Not Buying on the Dip, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. So and obviously, well continue to carry forward with our capital return plan to shareholders. Podcast And Satellite Radio Businesses Will Be More Closely Aligned, SiriusXM CEO Says. SiriusXM also launched Team Coco Radio in November to leverage the podcasts that the Conan OBrien-led production studio creates. Generally, the expectation was modestly negative. Cost basis and return based on previous market day close. Our team is working diligently to position us for success in the second half of 2023 and beyond, and I'm excited to see how this year shapes up. We plan to tackle these issues with a new data-driven platform launching later this year that allows for more control of the listener experience and improve discovery, fully utilizing our unmatched content lineup. We extended agreements with the NHL and NASCAR ensuring continued access for our subscribers for years to come. On conversion rates, so I talked a bit about this on the last call, but just to add some more color conversion rates are continuing to trend in the low-30s and the for new car in the low-20s for used. They will improve over the course of the year as will overall total net ads. And CSAT is at an all time our customer satisfaction is at an all-time high since 2009. Certainly, theres still uncertainty in the second half I think, but we are hopeful that the market will continue to recover. SiriusXM Prices and Packages. Our total new and used car penetration rate was 80% and 55%, respectively and our enabled fleet stands at about 154 million vehicles. David Joyce -- Seaport Research Partners -- Analyst. Its growth is as pedestrian as it is predictable. And I believe that is a very strong proof point for what we can continue to drive and see when we launch this new platform that is going to support 360L, but also drive cross listening in and out of the car and provide much more personalized listening experiences. Our ability to bring brands into podcasting, its traditionally been much more D2C and D2C has been soft in the first quarter. Great. Thank you, Jennifer. Listen to Live callers vent their frustrations with the corrupt career politicians on Capitol Hill, hilarious music political parodies from Jim Gossett, and above all, DON'T CATCH THE STUPID!!! Tags: Financials Pandora Radio SiriusXM. Well share progress on future quarterly calls, but the first months of 2023 have already brought several exciting product iterations and consumer offers providing valuable insights for the full platform re-launch later this year. What are you guys seeing among OEMs in terms of their positioning around third-party interfaces on the DASH versus their own? Thank you, Ben. It probably definitely falls into the diverse preferences of listeners buckets, but you just have two rather polarizing TV news personalities becoming available, albeit some bad actor issues that Tucker Carlson, Don Lemon, you certainly have been very tolerant view on all sides of the spectrum. We expect this margin to trend favorably for the remainder of the year. So, we believe no matter what path the OEM chooses will be really well positioned there. And then to your question on streaming net ads, we did -- to some extent, we've gone through this hurdle of the reduced marketing spend we had in the fourth quarter, and now we're operating at a much more efficient level. And secondly, regarding the satellite radio side, GM has announced that they are planning on dropping Apple CarPlay. So that pressure will abate to some extent. Well continue our current process of being cautious and disciplined. Additionally, we debuted our first-ever integrated billing with T-Mobile, expanding upon our existing six-month SiriusXM streaming offer and adding a Pandora Premium four-month trial offer, making it even easier for trialers to transition into paying subscribers. Or is there anything different that you can talk to at this point? Despite market and business challenges, Im proud of our good start to the year. SiriusXM bought Conan OBriens Team Coco last year in a $150 million deal that also included a five-year talent agreement for Team Coco staff to collaborate on content, including the new satellite At the intersection of the two, our programmatic podcast sales doubled year-over-year, albeit, office small base and contributed to overall podcast ad revenue growth of 34%. Just since it's your first call as CFO, a follow-up to James' question. With that, Ill hand the call over to Jennifer. And we do expect auto sales to continue to grow. At this time, well be conducting a question-and-answer session. At its cheapest plan, fuboTV offers 140+ channels to choose from, so youll have access to more than just sports as well. Itd be great to maybe hear how youre thinking more broadly about leveraging capital allocation. Thank you. And in particular with Walmart, were testing an offer that allows consumers to choose, do they want a satellite trial or an in-car trial or a streaming trial? Sirius XM's guidance calls for $9 billion in revenue this year, flat with where it landed in 2022. Thank you, and good morning, everyone. Thank you for joining us. Sirius XM offers superior reception. Thanks, David. Thanks, Hooper, and good morning, everyone. Some sports might be live on Fubo TV right now. The upside to the boring turn is that the media stock is consistently profitable. Pause and rewind live radio. Welcome to SiriusXM's First Quarter 2023 Earnings Conference Call. The company ended March with just over 34 million subscribers for its radio service: a rise of just 0.2%. One, we don't comment on anything we're looking at directly. It's traditionally been much more D2C and D2C has been soft in the first quarter. Thanks. We see significant in-car conversion improvements when trialers engage with features that enable more control in discovery, including our more targeted extra channels, Pandora artist stations, and enhanced recommendations. Have an iPhone? Sirius XMs Q1 2023 earnings per share is expected to be 8 cents as per Trefis analysis, higher than the consensus estimate of 7 cents. Well start seeing it actually come through used car trial starts as well as some of those early cars turn over. An iPad? I also want to thank Sean for his many contributions these last few years and ensuring a smooth transition. And how is that progressing over the course of this year in your view? And whereas other services you need to sign up for a data plan, we cover the data costs ourselves. WebWhat channel is NewsMax on Sirius XM Sirius M offers a delightful variety of channels designed to suit anyones taste. And we are seeing even better conversion rates among younger trialers who have 360L relative to older generations, and particularly our core audiences who know our service and are used to navigating it. And our ad technology business continues to be extremely profitable, growing about 20% year over year and partially offsetting broader headwinds during the first quarter. So its rolling out. Look forward to working with you. Do not get confused with these three mediums. It'd be great to maybe hear how you're thinking more broadly about leveraging capital allocation. WebSiriusXM Satellite Radio Online Account Center. Thanks for that color. Just help us think about bridging the Q1 losses toward better numbers in the back half between those two subscriber bases, if you would. But we're not seeing any major changes in the market that I would highlight. And I think ultimately, ARPU as well because we can deliver even more content and features to our subscribers. I'm truly excited about this opportunity and join the conversation with investors and analysts and meet many of you in the coming weeks. I will now turn the call over to Sean for some brief remarks, and then Tom will go through the financials in more detail. The Favorites area will appear; click on it, and the web will show all of your presets. In the first quarter, we outperformed our initial financial expectations, putting us in a strong position to increase our full-year guidance for adjusted EBITDA and free cash flow. Im glad you extended your tenure in the media industry here and to Tom, congratulations. Additionally, we are ramping up our marketing technology capabilities to better leverage our rich content to deliver more personalized messaging in our marketing efforts. ET. Thank you, and good morning, everyone. And returning this fall, Lets Go!, hosted by Tom Brady, Larry Fitzgerald and Jim Gray will be available first to our subscribers, then on demand exclusively in our app. Thanks, Steven. The company says it ended the first quarter with 46.7 million monthly active users, an eight percent decline from a year earlier. Gross profit in the SiriusXM segment declined 5% to $1.02 billion, representing a margin of 61%, down slightly from 2022 due to higher royalties. Yes, Barton. I mean, the economy, we just had a soft GDP number a couple minutes ago. Do not sell or share my personal information. The difference is whether or not you listen to satellite radio in your car. Please proceed with your question. [Operator Instructions] Thank you. I'm glad you extended your tenure in the media industry here. Is this happening to you frequently? Here's why: If, for whatever reason, watching Newsmax TV on Sling doesn't work for you, we've also rounded up 2 more options and we even divided them up into the best picks for people who also watch lots of sports, news, reality TV, and more. The OEM paid promotional revenue has been trending down over the last few years. And likewise, for XM radio, only XM packages can be activated. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. And James, to your second question, so we'll see how this -- how the OEMs navigate kind of the integration of CarPlay and Android Auto, I think GM seems to be somewhat unique in that path. And while that growth will continue, its actually come down to more normalized level at this point and get the competitive challenges we have are easily solved with 360L and the new platform that were launching. And its key to not only lift in conversion, but also improved retention. Pleasure working with you and good luck on the next gig, keep them in the fairway. The dynamics are tough in the market because many buyers as new car prices start to come down may migrate from used cars to new cars and inventories are still pretty tight on the used car side. Read on to learn which streamers support both your device and Newsmax TV live streams. OK. James, I'll go first. I think trial starts are starting to improve, do you have, usually you guys have a pretty good line of sight on that. And whereas other services, you need to sign up for a data plan, we cover the data costs ourselves. The dynamics are tough in the market because many buyers as new car prices start to come down, may migrate from used cars to new cars, and inventories are still pretty tight on the used car side. Tuesday, 06 October 2020 07:21 PM EDT Howard Stern, the radio shock jock whos maintained his star power in the podcasting era, is nearing a contract renewal with Sirius XMs Q1 2023 earnings per share is expected to be 8 cents as per Trefis analysis, higher than the consensus estimate of 7 cents. On the used car market, just to start with that, the used car sales were actually pretty strong in the first couple of months of the year. Were investing in our future. And in March, we started to see that tail off a little bit. We're a platform that helps consumers choose the best streaming service for them through our content, resources, and tools for navigating the streaming landscape. All discussions of adjusted operating results exclude the effects of stock-based compensation. So, Stephen, the Walmart, and T-Mobile have been great partners, and I'm very pleased that we've been able to launch with them and test out different trial offers. We help resolve pain points facing marketers by using greater automation and making buying more efficient. But we are actually holding back largely until the launch of the new platform, which is in the fourth quarter. Have a Samsung smart TV or another type of Android TV? Here youre seeing the normal effects of seasonally light ad revenue in the first quarter, combined with recent ad headwinds plus the CPI inflater to web streaming royalties. I mean, the economy, we just had a soft GDP number, a couple of minutes ago. But are there any circumstances where if I was Tucker or Don Lemon, why would I certainly want to be with you on the linear and podcasting side rather than Newsmax or OEM, but is that just two friends for you. Pandora was supposed to be a catalyst for growth, a digital escape hatch the moment that satellite radio would prove transitory and eventually obsolete. The Rob Carson Show gives you a humorous yet concerned analysis of daily political events and how they affect struggling Americans, as well as exclusive interviews with influential hard-hitting guests.

What Happens When I Ignore A Virgo Woman, Hungry Jack Biscuit Taco Casserole, Emory Hospital Patient Advocate, How Many Pikachu Illustrator Cards Are There, Articles I